Indian households shift savings from banks to capital markets, declining bank deposits, per RBI Governor Das.
India's financial landscape is experiencing a structural shift, with households increasingly choosing capital markets and other financial intermediaries over banks for savings, according to RBI Governor Shaktikanta Das. This trend has led to a decline in the share of bank deposits. Das noted the shift as a "critical issue" and urged banks to focus on robust credit underwriting.
July 19, 2024
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